Norges Bank Makes New Investment in Surgery Partners, Inc. (NASDAQ:SGRY)

Norges Bank acquired a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 746,169 shares of the company's stock, valued at approximately $15,796,000. Norges Bank owned about 0.59% of Surgery Partners at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pier Capital LLC increased its holdings in Surgery Partners by 15.9% in the 4th quarter. Pier Capital LLC now owns 382,493 shares of the company's stock valued at $8,097,000 after purchasing an additional 52,611 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Surgery Partners by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 7,618,404 shares of the company's stock valued at $161,282,000 after buying an additional 172,271 shares in the last quarter. LPL Financial LLC grew its stake in shares of Surgery Partners by 22.4% in the fourth quarter. LPL Financial LLC now owns 16,749 shares of the company's stock valued at $355,000 after buying an additional 3,062 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Surgery Partners in the 4th quarter valued at $273,000. Finally, Sei Investments Co. lifted its stake in Surgery Partners by 13.9% during the 4th quarter. Sei Investments Co. now owns 43,666 shares of the company's stock worth $924,000 after acquiring an additional 5,333 shares in the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on SGRY. Bank of America started coverage on Surgery Partners in a research report on Monday, December 16th. They issued a "buy" rating and a $30.00 target price for the company. Macquarie dropped their price objective on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 target price on shares of Surgery Partners in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.63.

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Insider Transactions at Surgery Partners

In related news, insider Harrison R. Bane sold 56,315 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $25.64, for a total value of $1,443,916.60. Following the completion of the sale, the insider now directly owns 107,037 shares of the company's stock, valued at $2,744,428.68. The trade was a 34.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marissa Brittenham sold 3,156 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $24.09, for a total value of $76,028.04. Following the transaction, the insider now directly owns 63,408 shares in the company, valued at approximately $1,527,498.72. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,622 shares of company stock valued at $2,717,860. Corporate insiders own 2.30% of the company's stock.

Surgery Partners Stock Up 0.6 %

Shares of NASDAQ:SGRY traded up $0.12 during trading hours on Friday, reaching $20.99. The stock had a trading volume of 815,510 shares, compared to its average volume of 1,099,434. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -43.73, a P/E/G ratio of 19.21 and a beta of 2.40. The firm's 50 day moving average is $23.99 and its 200-day moving average is $24.76. Surgery Partners, Inc. has a 1 year low of $19.50 and a 1 year high of $33.97. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $864.40 million for the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. Research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Surgery Partners Profile

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.